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Quits stay near a two-year low as hiring remains sluggish
BLS data show the quits rate at 2.0% in June, while employers hired at a 3.4% rate, near their weakest levels in years.
A labor market marked by fewer exits and fewer new hires is leaving many Americans stuck in their jobs even as job searching becomes routine, according to FlexJobs.
The FlexJobs State of the Job Search Report found nearly half of workers said they recently changed jobs or plan to within six months, while more than half reported searching for openings every day. In the same survey of 1,701 workers fielded in June, 37% said they look multiple times per day and 61% cited employers who never respond as their top frustration.
Government data align with that disconnect. The Bureau of Labor Statistics reported the quits rate held at 2.0% in June, and the hiring rate was 3.4%, both near their weakest levels in years.
BLS reporting also points to a market with limited movement, which can weigh on wage growth, with pay gains already at their weakest since 2021. The article also notes the challenge for job seekers, including that 48% of applicants said they altered or exaggerated information on resumes or cover letters, most often by omitting prior roles or experiences.